Business Specialties
Emden Joins Colliers as Vice Chair
Emden will report directly to New York Tri-State CEO Mark Jaccom and will hold responsibility for growing the company’s tenant representation division, transacting leases, acquiring new business and developing the roster of brokers.
Sperry Van Ness Partners with AuctionPoint, Enhances Online Services
The partnership will allow Sperry Van Ness to offer property-specific online auction websites complete with property details, pictures and due diligence materials.
Fitch: U.S. CMBS Delinquencies Nearing 8 Percent on Office Defaults
Throughout the month, 44 office loans went delinquent, including 14 loans with a balance greater than $20 million.
The largest new delinquency was the $380 million Columbia Center loan, whose collateral is located in Seattle.
700,000-SF Connecticut Multi-Family Project Takes Green to New Heights with Fuel Cell Installation
Becker + Becker, developer of the 700,000-square-foot mixed-use 360 State Street residential project in New Haven, Conn., has just broken new ground with the installation of a 400-kilowatt fuel cell at the $180 million development, marking the world’s first large-scale residential installation of a fuel cell.
Digital Realty Bolsters Datacenter Portfolio by Nearly 1M SF to the Tune of $725M
The portfolio’s properties are located in San Francisco, El Segundo, Calif., Oakland, Calif., Chandler, Az., and Chantilly, Va.
Feds Continue Construction Frenzy, Selecting CDM for $500M Design-Build Contract
CDM will have its hands full over the next several years. The indefinite delivery, indefinite quantity contract calls for the firm to supply design-build services for a variety of development endeavors to both USCG and the U.S. Department of Homeland Security.
Starwood Deploys $131M in Capital
The capital was deployed via a pair of transactions: a $72.5 million discounted purchase of a $90.6 million participation in a B note secured by four resorts in the United Kingdom and the origination of a $59 million first mortgage loan on a 38-story office building in Chicago’s central business district.
Leases Totaling 120,000 SF Finalized at Miami’s Brickell Office Tower
The tower’s new tenants include private investment firm HIG Capital, Spanish financial institution Bancaja, and Kempler Energy, which is relocating from New York City.
Digital Realty Acquires 82,000 SF in Silicon Valley
The buildings are located on a single 4.2-acre parcel across the street from another Digital Realty campus.
Economy Watch: April Existing Home Sales Fueled by Last Gasp of Tax Credit
Existing U.S. home sales surged an unsurprising 7.6 percent in April from March to an annualized rate of 5.77 million, according to the National Association of Realtors on Monday. Compared with April 2009, sales were 22.8 percent higher.